Zomato reports profit at Rs 36 cr in Q2, revenue up 71% to Rs 2,848 cr. Food delivery platform Zomato reported a profit of Rs 36 crore in the second quarter of FY23, on revenue of Rs 2,848 crore. This is the company’s first quarterly profit since its IPO in July 2021.
Indian stock market indices end lower on weak global cues. Indian stock market indices ended lower on November 3, tracking weak global cues. The Sensex closed 115.81 points lower at 66,166.93, while the Nifty fell 19.30 points to 19,731.75.
Gold prices see a slight increase on Friday. Gold prices saw a slight increase on November 3, with the cost of 24 carat gold rising by Rs 110 per gram to Rs 61,790 per gram. The price of silver, on the other hand, fell by Rs 520 per kg to Rs 71,170 per kg.
Rupee falls against US dollar. The rupee fell against the US dollar on November 3, closing at 83.28 per dollar. This is the rupee’s lowest level against the dollar in over a year.
Indian economy expected to grow at 6.8% in FY24: World Bank. The World Bank has projected that the Indian economy will grow at 6.8% in FY24, making it the fastest growing major economy in the world.
Other notable business news updates from November 2, 2023 include:
Reliance Industries to invest Rs 10 lakh crore in Tamil Nadu over 10 years.
Tata Group to launch electric vehicle brand in India in 2025.
Google to invest Rs 75,000 crore in India over the next 5 years.
Amazon to invest Rs 10,000 crore in India to build new data centers.
Flipkart to invest Rs 5,000 crore in India to expand its logistics network.
Financial market news updates for November 2, 2023:
US stock markets end lower on weak global cues. The Dow Jones Industrial Average fell 115.81 points, or 0.33%, to close at 36,166.93. The S&P 500 lost 19.30 points, or 0.46%, to close at 4,349.61. The Nasdaq Composite dropped 25.59 points, or 0.19%, to close at 13,574.22. The decline was attributed to weak global cues, with European and Asian markets also closing lower.
Indian stock markets end lower on profit-booking. The BSE Sensex fell 115.81 points, or 0.18%, to close at 66,166.93. The Nifty 50 index lost 19.30 points, or 0.10%, to close at 19,731.75. The decline was attributed to profit-booking after recent gains, as well as weak global cues.
Gold and silver prices see a slight increase. The price of gold rose by Rs 110 per gram to Rs 61,790 per gram. The price of silver rose by Rs 520 per kg to Rs 71,170 per kg. The increase in prices was attributed to safe-haven buying amid weak global markets.
Rupee falls against US dollar. The rupee fell by 0.26% against the US dollar to close at 83.28 per dollar. The decline in the rupee was attributed to dollar buying by foreign investors and banks.
Oil prices end lower on recession fears. Brent crude oil prices fell by 1.5% to close at $93.72 per barrel. US crude oil prices fell by 1.3% to close at $87.08 per barrel. The decline in oil prices was attributed to recession fears and concerns about a slowdown in global demand.
Other notable financial market news updates from November 2, 2023 include:
US Treasury yields rise on expectations of further Fed rate hikes. The yield on the 10-year US Treasury note rose by 5 basis points to 4.75%. The rise in yields was attributed to expectations that the US Federal Reserve will continue to raise interest rates in order to combat inflation.
European stock markets close lower on weak global cues. The FTSE 100 index fell by 0.33%, the CAC 40 index fell by 0.45%, and the DAX index fell by 0.51%. The decline in European markets was attributed to weak global cues, with US and Asian markets also closing lower.
Asian stock markets close lower on recession fears. The Nikkei 225 index fell by 0.60%, the Hang Seng index fell by 1.02%, and the Shanghai Composite index fell by 0.73%. The decline in Asian markets was attributed to recession fears and concerns about a slowdown in global demand.